María Rómula

María is a 36 year old single mother. For the past 8 years she has been selling products from catalogs. She was taught this by a friend who taught her everything about this activity. Little by little she has acquired experience and her own clientele. She works every day but does not have a fixed schedule. In this manner she generates enough revenue to cover the household expenses as she is the head of the household. Her drive, enthusiasm and dynamism have motivated her to request a loan to help her invest in buying stock at wholesale (cosmetics, body creams, perfume, accessories, etc.) In this way she can take advantage of discounts and promotions reducing the cost of her product. She can increases her profit margin with each sale and she can meet the customer demand which is always high at the end of the year. This will increase the income she makes for her labor.In this way María will continue to struggle overcoming the obstacles put in her way and face the main challenge she has. Which is getting to the various areas to sell. In the future she would like to own a vehicle to make transportation easier. She would also like to continue investing in her business and in the future fulfill the dream of owning her own premises where she could sell all types of products, creating more employment opportunities and raising her family's quality of life and well-being.

Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.